BSE Sensex which posted its worst week in over two months. The broader indices comfortably achieved weekly gain of over one per cent, driven by a sharp rally by railway public-sector undertaking (PSU) stocks. The frontline indices grappled to gain momentum this week amid global uncertainties and lacklustre earnings by major companies so far.
Despite this, railway PSUs have emerged as robust performers, delivering double-digit returns, with some boasting gains exceeding 55 per cent. Among these, Rail Vikas Nigam Limited (RVNL) witnessed an outstanding rally of almost 58 per cent throughout this week. Today, the stock hit its 10 per cent upper circuit limit, reaching a new all-time high of ₹320.35 apiece, lifting the company's market capitalisation to ₹66,793 crore.
Notably, the company gained ₹24,356 crore in market value just this week. On a broader view, IRCON International, RVNL, Ganesh HSG Corp, Dredging Corp, MSTC, Hudco, RailTel Corporation of India, RITES, Orient Paper, Sigachi Industries, Texmaco Rail, CEAT, and others are among the smallcaps that logged a double-digit rise in their share prices last week. Benchmark indices recorded their worst week in over two months clocking the biggest weekly losses, according to market experts.
Nifty bank also recorded biggest weekly fall in a year. The biggest contributor to the fall of Nifty and Bank Nifty was HDFC Bank. Sectoral Indices posted a mixed performance with oil & gas sector gaining the most and Nifty Bank falling the most being the worst performer.
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